Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Tiger Airways up on passenger growth

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STOCKS NEWS SINGAPORE-Tiger Airways up on passenger growth Sep 11th 2012, 02:58 Mon Sep 10, 2012 10:58pm EDT Budget carrier Tiger Airways Holdings Ltd rose as much as 2.8 percent in a flat market after it posted stronger growth in passengers it carried last month and higher load factor. By 0235 GMT, Tiger shares were up 2.1 percent at S$0.735, while the Straits Times Index was unchanged. Tiger has risen 15.7 percent so far this year, compared to Thomson Reuters Asia Pacific and Russia Airline Services Index's 6 percent drop. Tiger said it carried 556,000 passengers in August, up 62 percent from a year ago. It reported a passenger load factor of 84 percent, higher than 77 percent last year. Tiger's Singapore operations carried 19 percent more passengers in August compared to a year earlier, due to an expanded capacity base. Its Australian operations also continued to show encouraging signs, said DBS Vickers in a report. "We continue to believe that the carrier will move steadily towards profitability and we expect the group as a whole to be profitable by the last quarter of this year," said DBS. The budge carrier reported in July a loss of S$13.7 million for the first quarter, smaller than a loss of S$20.6 million a year ago. 1039 (0239 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ************************************************************ 10:20 STOCKS NEWS SINGAPORE-Phillip cuts Hu An Cable target price Phillip Securities cut its target price for Hu An Cable Holdings Ltd to S$0.190 from S$0.275 and kept its 'buy' rating, citing smaller expected revenue and lower copper prices. Shares of Hu An were unchanged at S$0.134. They have gained 18.6 percent since the start of the year, compared with the FT ST Industrials Index's 16.6 percent rise. Hu An had said its net profit for the first half of the year fell 37.8 percent from a year ago to 38.7 million yuan. The company underperformed most of its peers in terms of revenue growth and net profit margin, Phillip said in a report. The brokerage cut its forecast revenue for the second half of the year and first quarter of 2013 by 25 percent, due to lower-than-expected volumes for its cable and wire business in the second quarter. 1007 (0207 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) Link this Share this Digg this Email Reprints

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